THE PROPERTY ANALYZER FORM WHERE THE RUBBER HITS THE ROAD
“All great truths are simple in the final analysis, and easily understood; if they are not, they are not great truths.”
Jazz was playing as the after-work crowd mingled and talked about the coming weekend over the aroma of roasted coffee. The energy in Starbucks was electric; the perfect setting for doing math, I thought to myself with a chuckle. I’d arrived early and grabbed a corner booth that was both quiet and had a good-sized table so that we could spread out our paperwork.
As I got settled with my latte, I reviewed the latest Property Analyzer Form that I had just completed on a property I wanted to buy. This got me to thinking—in all my years of investing, had I ever bought a property without using this form? After quite a bit of thought, I remembered just two instances. In one case I must have been lucky; I had owned the property for only a year, but so far it had worked out. However, the other property turned out to be a financial mistake, which is often the case when you don’t follow every step of a system.
This is a great lesson for both veteran and rookie investors alike: make sure that no matter how many properties you own and how proficient you get at buying, always follow your system. Don’t skip any of the steps. They are there for a reason—to protect you from yourself and from inevitable market shifts.
Never allow yourself to fall back into your old habits, as they lead you ...